Stock Traders Purchase High Volume of Bloom Energy Call Options (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the target of some unusual options trading activity on Thursday. Stock investors purchased 24,602 call options on the company. This represents an increase of approximately 35% compared to the average volume of 18,255 call options.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $25.46 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of -45.46 and a beta of 3.30. Bloom Energy has a one year low of $9.02 and a one year high of $29.83. The stock’s 50-day moving average is $24.10 and its 200-day moving average is $19.22.

Wall Street Analyst Weigh In

BE has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Friday, February 28th. BTIG Research upped their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Susquehanna raised their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Finally, Truist Financial increased their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $25.06.

Insider Activity

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. GAMMA Investing LLC grew its holdings in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the period. Arizona State Retirement System increased its position in Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after buying an additional 759 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.